Experiencing hard times, Tullow initiated the sale of the South Lokichar oil fields in Kenya with Total
Having suffered a blow on the stock market, the British oil company Tullow wants to sell a significant portion of its 50% stake in the three important Kenyan blocks. Total is taking a similar approach and wants to halve its stake to 12.5%.
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▪ Experiencing hard times, Tullow initiated the sale of the South Lokichar oil fields in Kenya with Total
▪ Having suffered a blow on the stock market, the British oil company Tullow wants to sell a significant portion of its 50% stake in the three important Kenyan blocks. Total is taking a similar approach and wants to halve its stake to 12.5%.
▪ https://www.africabusinessplus.com/en/802870/experiencing-hard-times-tullow-initiated-the-sale-of-the-south-lokichar-oil-fields-in-kenya-with-total/
The process for selling Tullow and Total’s stakes in the three main licences in the South Lokichar Basin in Kenya has been initiated. The transaction involves zones 10 BA, 10 BB and 13T located in the Lake Turkana region. A source with information on the matter told Jeune Afrique Business+ that it is a “farm down agreement” between Tullow and Total. Tullow operates and holds a 50% stake in the three blocks in question, which are also held by the Canadian company Africa Oil Corp. (25%) and Total (25%).
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